Wednesday, December 17, 2025
Oil jumps 25% on hope economy will reopen sooner than expected- oil and gas 360

Oil jumps 22% on smaller-than-expected inventory build, optimism around reopening economies

CNBC Oil prices jumped more than 20% on Wednesday following a report that showed a smaller-than-expected build in U.S. inventories, as well as on the hope that economies will reopen sooner than expected. West Texas Intermediate for June delivery surged 25%, or $3.08, to trade at $15.41 per barrel, while international benchmark Brent crude traded 9.2% higher at $22.34. Earlier in the session

Saudi crude buyers cancel at least seven supertankers after freight hike: sources- oil and gas 360

Saudi crude buyers cancel at least seven supertankers after freight hike: sources

Reuters LONDON – U.S. buyers of Saudi Arabian crude oil cancelled at least seven April-loading tankers after a jump in freight costs, two industry sources said, likely to result in lower-than-expected shipments from the world’s top exporter. The move shows how some buyers are not rushing to take extra oil despite a slide in prices this month to below $16